The name is portmanteau of 'gore' and 'Corvette'. The car is a 1973 General Motors Chevrolet Corvette C3.

Gore Usome = Gore you some (Gore being defined as "to pierce or wound, as with a horn").

It's also possibly a reference to "gruesome" and, perhaps more obliquely, "awesome."

In the Tozzer comic, two mechanics discuss whether or not a car can cleanly decapitate a pedestrian at the speed of 30 miles per hour. They decide that the Gorvette can do it, but not a regular car, which requires twice the speed.